TransAct Technologies Incorporated (Nasdaq:TACT) (“TransAct”), a global leader in market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries, announced today that it has entered into an exclusive multi-year agreement with Suzo-Happ Group (“Suzo-Happ”) to market and distribute TransAct casino and gaming printing solutions to casino and gaming operators in most areas of the world. Suzo-Happ is a leading global supplier of components and accessories to the gaming, amusement and industrial markets with over 20,000 customers world-wide. Under the terms of the agreement, TransAct will be the exclusive gaming printer solutions provider to Suzo-Happ for their casino and gaming customers effective immediately. The agreement with Suzo-Happ significantly expands TransAct’s worldwide distribution network, especially in the United States. Suzo-Happ was previously the exclusive distributor of another gaming printer manufacturer.
Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies, commented, “This new agreement for TransAct to be the exclusive provider of gaming printer solutions to Suzo-Happ is very significant for TransAct. Our two teams working together will help drive significant growth in our installed base of industry-leading Epic® printers, and for our innovative Epicentral® software system which is already installed on over 5,000 gaming machines in four casinos. As the leading distributor of gaming products, with gaming licenses in almost every jurisdiction, Suzo-Happ’s domestic and international reach greatly expands the number of gaming machines and casinos we can address including those in many United States jurisdictions. Suzo-Happ clearly saw the benefit of TransAct’s gaming solutions and we are very excited they have made the change to Transact.”
“Our long-term commitment to invest in technology and innovation has driven solid market share growth for our Epic printers and as a result they have emerged as the gaming machine printer solution of choice for operators. With Suzo-Happ deciding to change course and now serve exclusively as our distribution partner we expect to further our market share growth going forward. Importantly, partnering with Suzo-Happ significantly increases the market access for Epicentral, our easy-to-use, cost-effective promotion and bonusing solution that enables casino operators to develop and deliver marketing programs and promotional coupons to customers on a real-time basis directly at the slot machine. Epicentral is a proven tool for casino operators that at a minimum drives increased visitation, new enrollment in loyalty programs, and additional play, leading to higher revenue and solid investment returns. With Suzo-Happ’s established relationships, this new agreement allows us to further expand the addressable market for Epicentral which we expect will speed up the pace of deployments.”
James Brendel, President and CEO of Suzo-Happ Group, added, “TransAct’s printing solutions are best-in-class and we are thrilled to offer our customer base their full range of leading-edge products. We believe the proven benefits of Epicentral will be embraced by our customers as they seek to engage their players, deliver a rewarding experience and most importantly help grow their casino’s revenue. And our customers will no doubt appreciate the reliability of TransAct’s Epic line of thermal printers which have become the industry’s preferred ticket-in/ticket-out (“TITO”) casino printing solutions. Working with TransAct is a natural next step for Suzo-Happ and we look forward to a mutually beneficial relationship in the years to come.”
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leader in developing and manufacturing market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. These industries include casino and gaming, lottery, food safety, banking, point-of-sale, hospitality, oil and gas, and medical and mobile. Each individual market has distinct, critical requirements for printing and the transaction is not complete until the receipt and/or ticket is produced. TransAct printers and products are designed from the ground up based on market-specific requirements and are sold under the Ithaca®, Epic, EPICENTRAL® and Printrex® product brands. TransAct distributes its printers through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over 2.4 million printers installed around the world. TransAct is also committed to providing world-class printer service, spare parts, accessories and printing supplies to its growing worldwide installed base of printers. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumable items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming, government and oil and gas exploration markets. Through its webstore, http://www.transactsupplies.com, and a direct selling team, TransAct addresses the on-line demand for these products. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call 203.859.6800.
About Suzo-Happ Group
The Suzo-Happ Group was formed in 2004 with the merger of Suzo International, headquartered in The Netherlands, and Happ Controls, headquartered in Mount Prospect, IL. Major additions were made with Advanced Electronic Systems in 2005, Starpoint Electrics in 2006, Dynamics Chinatec in 2007, and Transcity Group in 2013. The combined organization holds a global leadership position in the gaming and amusement components and accessories market. The Company’s 550 employees serve more than 20,000 customers worldwide. Suzo-Happ has manufacturing, engineering, distribution and service capabilities in 10 countries globally. More information is available at www.suzohapp.com.
Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; our competitors introducing new products into the marketplace; our ability to successfully develop new products; our dependence on significant customers; our dependence on significant vendors; dependence on contract manufacturers for the assembly of a large portion of our products in China; our ability to protect intellectual property; our ability to recruit and retain quality employees as the Company grows; our dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; the economic and political conditions in the United States, Australia, New Zealand, Europe, Latin America and Asia; marketplace acceptance of new products; risks associated with foreign operations; the availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; risks associated with potential future acquisitions; our new line of food safety and oil and gas products will drive increased adoption by customers; the outcome of the lawsuit between TransAct and Avery Dennison Corporation; and other risk factors detailed from time to time in TransAct's reports filed with the Securities and Exchange Commission. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
TransAct Technologies Incorporated
Steve DeMartino, 203-859-6810
President and Chief Financial Officer
Richard Land, Joseph Jaffoni, Jim Leahy
212-835-8500 or email@example.com
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